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Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

OilNOW -
Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of their petroleum resources if local content requirements are not realistic and lack flexibility. So says Angele Ramsaransing-Karg, Manager...
News

Keppel reviewing offshore business, plans to sell between S$3-5 billion of assets

OilNOW -
Keppel Corporation Limited (Keppel) said Tuesday it plans to unlock value from S$3-5 billion of assets over the next 3 years as part of a strategic review of its offshore and marine business. Keppel affiliate, Keppel Shipyard Ltd., has been...
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Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

OilNOW -
The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas resources when compared to both Suriname and Trinidad and Tobago (T&T), under various oil price scenarios. This...
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Less than 15 percent of Guyana’s discovered resources have been sanctioned

OilNOW -
With over 8 billion barrels of oil equivalent discovered to date and just two approved developments, Guyana still has significant hydrocarbon resources yet to be produced. Analysts have said developing these resources early would be prudent, since delays run...
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Majors exiting 203 country positions but remain in play at key locations like Guyana

OilNOW -
The largest oil and gas companies in the world, including US oil major ExxonMobil, are revising their long-term oil price and demand outlook, and looking to streamline their portfolios to improve cash flow, cost efficiency...
News

Near future multiple FPSO projects to have lasting impact on Guyana development – Tina Riley

OilNOW -
From Ranger in the North-West to Haimara in the South-East, the more than 8 billion barrels of oil equivalent resources found to date at the prolific Stabroek Block offshore Guyana will lead in the transformation of the South American...
News

Tankers lifting Liza Crude required to comply with Guyana’s pandemic measures

OilNOW -
New oil producer Guyana continues to take precautionary measures at offshore installations in response to the global pandemic which has seen tankers lifting the Liza crude being required to arrive well ahead of time for each lift, in keeping...
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Saipem Guyana operations supported by 80 percent local workforce – Managing Director

OilNOW -
Since starting operations in Guyana in May 2018, Italian multinational oilfield services company Saipem has established a country office with 80 percent of its workforce now being Guyanese. Saipem has been awarded contracts by ExxonMobil for the Engineering, Procuring, Construction...
News

E&P companies took up combined debt of $72 billion in Q2 2020 – EIA analysis

OilNOW -
The United States Energy Information Administration (EIA) said its latest analysis has found that debt levels among Exploration and Production (E&P) companies spiked during the second quarter of 2020 illustrating the immediate impact of reduced oil demand and prices...
News

Approval for Payara Development imminent

OilNOW -
The Guyana government is close to granting approval for ExxonMobil’s 3rd development at the Stabroek Block, which will pave the way for a Final Investment Decision for the 220,000 barrels of oil per day project. “The Attorney General is currently engaging...
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Guyanese soldiers repeatedly attacked by armed men on Venezuelan shore during river patrols on Wednesday

The Guyana Defense Force (GDF) said on Thursday that its troops came under attack by armed men in civilian...

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